Silver soared to an all-time high on Thursday and gold rose to another record, as the dollar fell and as signs that the Federal Reserve would maintain a loose monetary policy stoke inflation worries. Silver briefly climbed to within a whisker of $50 an ounce, eclipsing the peak hit when Texan brothers William Herbert and Nelson Bunker Hunt sought to corner the silver market three decades ago.
The metal later pulled back on technical selling. Spot silver, which has rocketed nearly 60 percent so far this year, rose 1.6 percent to $48.53 an ounce by 3:29 pm EDT (1929 GMT), having earlier hit a record $49.51 an ounce, surpassing a peak of $49.48 on January 18, 1980 set during the Hunt brothers era. Spot gold rose to a lifetime high of $1,538.35 an ounce, breaking records for the ninth time in 10 sessions. It was later up 0.6 percent at $1,535.60 an ounce, up 0.6 percent. US June gold futures settled up 0.9 percent at $1,531.20.
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